Minding My Money: Spring Spending

It is warming up outside. The sun is playing peek-a-boo and soon enough those heavy coats and accessories will be unnecessary. The unveiling of legs, toes, arms, and necks await us. Ahhhh…it’s almost Spring! As the weather gets warmer, it is customary to see moods change into thoughts of shopping, travel, and periods of not studying. Spring break is great for unwinding and taking a moment away from the med school madness. You definitely deserve some rest and relaxation, but remember the semester is not over. Don’t let Spring break leave you broke. Check out the links below!

We recommend that students file the FAFSA by March 15 to ensure our office receives the information by the financial aid deadline. While completing the FAFSA students should confirm if the aggregate loan amount borrowed as recorded by the National Student Loan Data System (NSLDS) is correct. If you recently returned student loan funds it may take up to 60 days for your new loan amount to show on NSLDS.

The FAFSA information and the Georgetown Application for Financial Aid along with all required supporting documents must be received by April 15.

Upcoming M4 Loan Management and Repayment Sessions:

DATE: March 23

TIME: 9:00-10:30AM

ROOM: LA-2

PRESENTER: Julie Fresne, AAMC

Breakfast provided

DATE: April 14

TIME: 11:30AM-1:00PM

ROOM: LA-2

PRESENTER: Julie Fresne, AAMC

Lunch provided

(this is a repeat of the March 23 session)

Outside Scholarship Opportunities

Illinois Hospital Research and Education Foundation (IHREF) Constituency on Volunteers (CoV) Scholarship is awarding $1,000 Scholarships to medical students that are Illinois residents and academically competitive. The application is due April 15, 2011. Applications are available online at www.ihatoday.org/member-groups/constituency-sections/volunteers.aspx and in our office.

The DiMauro Scholarship sponsored by the Orazio Dimauro Foundation is awarding $3,500 scholarship for medical students who are residents of the greater Bridgeport, CT area and demonstrate financial need. Applications can be secured from the Orazio DiMauro Foundation, 11 Greenacres Lane, Trumbull, CT 06611 or by email at ifidi@aol.com. The application deadline is April 1, 2011 and the deadline for supporting materials is May 15, 2011.

The Dr. Frank and Florence Marino Scholarship Fund is awarding $1,000-$2,000 scholarships to medical students who attended Connecticut public or parochial high schools for at least eight years, graduated from a Connecticut public or parochial high school and will be a M2, M3 or M4 in Fall 2011. Applications are available online at http://www.hfpgscholarships.org/Scholarships/Home/tabid/305/Default.aspx or in our office. Application deadline is May 13, 2011.

Fourth Year Students

Fourth year students can now apply for the“Residency Relocation Loan.” Depending on the lender students can borrow up to $25,000. Since this loan is available as a “one-time only” request, you may want to request the full amount. Generally, students can return any unused portion of the loan to the lender but details on this should be reviewed with the lender. This loan is considered a personal loan, is not based on your financial aid eligibility, and does not need to be certified by our office. Feel free to stop by with any questions regarding the Residency Relocation Loan program.

Helpful Links

The Goal of the AAMC’s Financial Information, Resources, Services, and Tools (FIRST) program is to help medical borrowers expand their financial literacy, make smart decisions about student loans, and manage their student debt wisely. Sign up for their email notifications and tools at:https://www.aamc.org/services/first/

Thank you to all those who attended our Financial Aid Sessions this month! The audio recorded version of the M4 Residency Planning Session with Mid Tilghman will soon be available on the M4 class website.

Reminder

If you experience any unexpected financial dilemmas, please do not hesitate to contact us. This could include family emergencies, medical/dental expenses not covered by health insurance, child care expenses, etc.

If you have financial topics that you would like covered in our blog, please contact Amanda S. Ashley at asa39@georgetown.edu